As per the sources available with www.propertykhazana.com, now-a-days Bangalore is the city which is becoming as the centre for the international business travel in this process the global hospitality brands have checked into Bangalore rapidly. Starwood Hotels and Resorts started its Sheraton Hotel at Brigade Gateway in Malleshwaram and Switzerland based Movenpick Hotels have started its 1st 5-star Property in India in Bangalore. Several hotels and resorts are in row and it will be in 5-Star deluxe group and in next two years the city will observe an extra of 2,500 rooms across the group which is 3-Star to 5-Star luxury and at present Bangalore has 5,550 rooms in these groups. Prestige Estates Ventures had joined with JW Marriott to construct 300 rooms luxury resort hotel on Nandi Hills Road as Prestige Golfshire and still 2 more Shangri-La on Palace Road and Ritz Carlton on Residency Road are anticipated to be ready within 2 years.
Revealed sources’ to www.propertykhazana.com discloses, Manav Thadani Chairman of Hospitality Consultancy Firm HVS said that, “Pale amount of supply had come to Bangalore which had permitted for some price rationalization. But still, there are many small markets in Bangalore that maintains to do well.” Small markets of Whitefield, Outer Ring Road and Electronics City are looking out for new supplies with many IT/ITeS companies which are increasing on the margin. MDB Zephyr which is the aprt of the New Delhi Based MBD Group is also setting up 200 room luxury hotels and Hospitality Brand Alila is also doing 120 room luxury hotels in Whitefield. In Bangalore, Business Traveller’s insists 80% on the rooms, gatherings and discussions segment and for the leisure segments it insists 3 & 5% according to realty consultancy Cushman & Wakefield. Akshay Kulkarni Executive Director in Cushman & Wakefield says, “A large piece of trade is driven by the Corporate’s. Apart from Aero India there are not big events which will come to Bangalore.” In the Bangalore the regular price pointed at Rs. 8,500 in 2007 as per C&W Hospitality report 2010 and it was plunged to Rs. 6,600 in 2009 and was also hard-bitten by 10-15% because of hike in demand.
Source: NIMMA BENGALURU
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